I have no idea what that chart is saying. What I do know is that the Dow is hitting new highs...yet again...today.
Look, when a company like SYMC can be up today 7% because they exceeded reduced earnings expectations as a result of cost cutting and layoffs, admit they are struggling because of the longest PC sales slump ever, and revenues are falling year over year, YOU KNOW IT IS A BULL MARKET. When companies can seemingly do no wrong, no matter how bad the books, and yet the stock lifts effortlessly, it is not the time to short.
Here's how you know when you're in a bear market. Earnings not so bad, looks like growth going forward, and you're scratching your head because the stock keeps getting pounded over and over relentlessly. Remember those times? That's is the only time I'd be heavily short, and certainly never, 100% invested one way or the other. But then again, I've gotton more conservative in my middle age.
